To have spent 12 years of child benefit?

[FullMoomin]

Having a panic attack.
I've just calculated that over the past 12 years of spending child benefit every month I've spent over £20,000!!!!!
I should have saved this money for DC!
If I had saved it, I could give it to them.
Turns out all my friends have been quietly saving theirs and now have a nice big monet pot to give their DC when they turn 18!
Now I feel horrifically guilty that my DC wo t get that, when all their friends will.
Oh help, really panicking.
I will never, ever be in the financial situation to pay £16,000 back to them.
The money goes in to my account each month and first it got spent on nappies, food, supplementing my reduced income, then when they went to school it got used for school uniform, new shoes, clubs, food, etc.
Suddenly 12 years has crept up on me and I haven't saved a penny of it.
Only 4 years of CHB to go now and then it stops!! I feel like I've seriously failed my DC.

I’d get the frothing if kids went without and parents spent the benefit on themselves , but paying for your kids out your own hard earned money and saving 20 quid a week for your kids should be applauded, not having poster furious they were able to do that

utterly appalling attitude.

Because it’s about £33 a week and you’re meant to spend it.

It’s money for essentials for DC. The income cut off to receive it isn’t exactly high and the vast majority of people who receive it are doing exactly what you are with it. Your friends are unusual and possibly a little smug.

@LordEmsworth how have you got to adulthood and you are still lacking skills to comprehend that we all CHOOSE to spend on different things? I'm sorry but I will not continue to argue with you about such nonsense. It's crazy to me 😂

This!

You’ve used it for what it’s meant to be for! That’s the exact same I’ve done with my DC.

I didn’t have anything off my parents when I was 18, I was expected to then fend for myself in the big wide world as at 18 your then an adult

It’s been kinda means tests for the last half decade or so. Richer parents pay it back through the tax system.

Ive got 3 children and their child benefit is spent on feeding them/housing them and activities for them. They each have savings accounts that i save as much as i can afford into but its not much (they each have about £2000. I figure they benefit more from being housed and fed now than starving but having a lump sum at 18.

The point is, if someone can choose not to spend CB do they actually need to be given that state benefit to start with?

I’ve never heard of anyone saving it. I didn’t know people did that. I assumed it paid for the basics for bringing up a child.

I know someone who didn’t buy milk for their child as it was too expensive and I always thought she could use the child benefit for that.

I don't know anyone who saves their child benefit like that. I sure don't. It's to improve the kids lives and I need it to clothe and feed them and pay for their hobbies.

Child benefit is meant to pay for uniform etc, it is not meant as a child trust fund. If you can afford to save it, great, if you need it, use it. There is nothing wrong in your children having to accept that their family aren't rolling in money. I really don't understand why or what you are panicking for. Do you think your children are going to demand this money ?

I don’t think you have done anything wrong at all. I don’t get child benefit as we are above the threshold but at the end of each month don’t have enough to put by savings for their future and that is just the way it is. Actually a bit annoying that people receive it and don’t need it.

I stand corrected on that point, although the limit is hardly poverty. But you are very, very invested in other people's family budgets.
Might want to stop that.

They probably do need it, given that it’s means tested. If they’re saving it they’re probably unnecessarily cutting corners.

Your being silly.... if it was meant to be saved CB would of informed you. Theres no need for this dramatic "I'll never be able to give them 16k" .... CB isnt for saving for 18 years to give to the DC. It's to go towards their nappies, milk, clothes, shopping, gas and electric

@MrsMarzetti no it isn't because back in the days you would get uniform vouchers. I still can picture my mother tearing the thing off the side of the paper and taking us shopping.

I’ve never heard of anyone saving it up as a lump sum. Great for those who can genuinely afford it but it’s not what it was intended for. I use it for general child expenses just like I remember my own mum doing. Never thought to do anything different. If you’re managing, well done!

Eh? I do understand that. It's crazy to me that so many people think the OP's "friends" are right to sneer at her, but I guess it takes all sorts.

I’m not entitled to child benefit, and therefore have not saved it. I’m also not rolling in money either and I don’t have a massive savings pot for the kids. The point of child benefit is for spending on essentials for your kids. Unless you’ve been buying yourself booze and fags, I’m sure you have used it as intended.

I'm commenting on the thread, like 100s of other people, including you.
You choose to comment, with incorrect information, yet somehow feel it's appropriate to be attempting to assume some sort of superiority with little childish digs.

@babysharkdoodoodedoodedoo They should return the money if it was unneeded. Pretty disrespectful to keep it so their kid can get a big pot of money!

There is nothing disrespectful about a family saving money, you’re being utterly ridiculous. By your logic a household earning 90k and spending the money on a fancier car with no money left over to save is somehow holier than a family working hard with their budget to stick £80 a month away for their child.

The idea that no one who claims child benefit, which is capped at 60k, should be able to save a penny is farcical.

Oh right, so do they inform you you’re not allowed to save for your kid, I missed that memo, can you paste a copy of yours?

If people have managed to save every month's allowance for 12 years then they didn't need it in the first place. Whereas we spent our DC's on them, for clothes, school equipment, clubs, etc. We've now gone over the threshold with my partner's salary.

(And don't get me started on how two parents earning 49k each still qualify for it!)

...and if these corners mean the child is actually going without now?

YABU to beat yourself up about spending money the state gives you for your children on your children as you state you have. So in my view @FullMoomin absolutely YANBU to have spent 12 years worth of child benefit.

YWBU however if you had spent that money for your own benefit, or on fags/booze/drugs or any other way it would be detrimental to your children.